Medco Energi to acquire stakes in four Eni blocks
Indonesian energy company Medco Energi announced on October 12 that it had reached an agreement with Italy's Eni to acquire a 10% participating interest in four oil and gas blocks in East Kalimantan.
The transaction covers Muara Bakau, Ganal, West Ganal and East Ganal, including production and exploration assets. The portfolio also includes the Geliga field, estimated to contain approximately 5 trillion cubic feet of natural gas and 300 million barrels of condensate.
The transaction could strengthen Medco Energi's Indonesian gas portfolio and its position in the liquefied natural gas supply chain. Access to fields with substantial resource potential may expand the company's long-term production options.
However, the disclosed resource estimates should not be treated as volumes already brought into production.
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